Appointment of Ms. Deepika Vaid as a Company Secretary cum Compliance officer of the Company
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Aviva Industries Ltd held a board meeting on 29 May 2025 and approved two key items: (1) audited financial results for the year ended 31 March 2025, and (2) appointment of Ms. Deepika Vaid as Company Secretary cum Compliance Officer effective 2 June 2025. For FY25, revenue from operations fell sharply to Rs 3.19 lakhs from Rs 57.57 lakhs in FY24, while the net loss narrowed to Rs 1.64 lakhs from Rs 8.65 lakhs. The statutory auditor P Singhvi & Associates issued a qualified opinion, flagging that the company did not have a whole-time Company Secretary during the year, which led to non-compliance with statutory requirements. The auditor also noted that trading in the company's shares is suspended due to non-payment of listing fees, and that the company's accounting software did not have an audit trail feature. The new CS appointment directly addresses the auditor's qualification. Ms. Deepika Vaid is a qualified Company Secretary with over 10 years of experience in corporate secretarial and compliance work.
The new CS appointment fixes a key compliance gap flagged by the auditor, which is a small positive for governance. However, shareholders should note the very weak revenue, continuing losses, and the ongoing suspension of trading in the stock due to unpaid listing fees.